July 20 brought a mix of market data, industry developments, and company updates. In the top 10 tokens by CEX trading volume, BANK stood out with a 93.81% gain over the past 24 hours, while BTC, ETH, SOL, BNB, and XRP posted relatively modest moves. Elsewhere, attention turned to KB Financial Group’s new digital asset investment fund, Trump Media & Technology Group’s upcoming Truth API launch, and payment arrangements tied to ChangXin Technology’s share offering.
CEX leaders and 24-hour moves
The top 10 tokens by CEX trading volume and their 24-hour changes were:
- BTC: -0.2%
- ETH: +0.42%
- SOL: +0.94%
- BNB: +0.13%
- XRP: +0.33%
- BANK: +93.81%
- ZEC: -2.29%
- TRX: +0.43%
- DOGE: -0.37%
- AVAX: -2.06%
BANK delivered by far the largest gain in the group. ZEC and AVAX were among the weaker names on the list.
Top gainers on OKX
According to OKX data, the 24-hour gainers list included:
- NAVX: +24.87%
- PUMP: +18.55%
- YB: +16.91%
- KAITO: +14.85%
- ROBO: +10.74%
- DGB: +8.87%
- SKL: +6.14%
- HUMA: +4.5%
- SUSHI: +4.43%
- CETUS: +4.28%
Crypto-related stocks: 24-hour gainers
Data from msx.com showed the following 24-hour gainers among crypto-related stocks:
- EBON.M: +4.43%
- BRUN.M: +2.66%
- FFAI.M: +2.39%
- LUNR.M: +2.22%
- GAME.M: +2%
- AMRK.M: +1.88%
- BKKT.M: +1.79%
- XE.M: +1.57%
- YSS.M: +1.51%
- ALMU.M: +1.37%
Top on-chain memes
According to GMGN, the top five on-chain meme tokens were:
- CASHCAT (Robinhood Chain)
- PONS (Robinhood Chain)
- TENDIES (Robinhood Chain)
- Shit Coin (BSC)
- Monkey Coin (BSC)
Top headlines
Spain wins the World Cup
Spain beat Argentina 1:0 after extra time in the World Cup final hosted across the United States, Canada, and Mexico, securing its second title after the 2010 tournament in South Africa.
ChangXin Technology payment deadline falls on July 20
ChangXin Technology said the offering price was set at 8.66 yuan per share, with an initial issuance of about 6.688 billion shares. A total of 7,702,207 winning numbers were issued, with one lot equal to 500 shares.
The company said investors should pay close attention to the payment process and complete payment obligations on July 20, the T+2 settlement day. Offline investors are required to make full payment based on the final offering price of 8.66 yuan per share and the number of shares allotted under the July 20 announcement on preliminary offline placement results and online allotment results. Subscription funds must arrive before 16:00 on July 20.
Online investors who won allotments must also complete fund settlement in line with the same announcement and ensure their accounts hold enough subscription funds by the end of July 20. Any shortfall will be treated as a waiver of subscription.
Trump Media to launch Truth API on Aug. 1
Trump Media & Technology Group said it will roll out a paid data product called Truth API on Aug. 1. The service will provide banks, algorithmic trading firms, and other institutions with real-time access to posts from the 10 most influential accounts on Truth Social, including Donald Trump.
Industry developments
KB Financial Group sets up 100 billion won digital asset fund
KB Financial Group said it has established a strategic investment fund worth 100 billion won, or about $71 million, focused on digital assets and artificial intelligence. The group said the fund is intended to pursue investment opportunities in those sectors and connect portfolio projects with KB’s own businesses to speed up its digital finance transition.
The fund will be managed by KB Investment. Its priority areas include technology companies tied to the digital asset market, foundation models and application services that support AI transformation, and startups working on AI infrastructure such as data reasoning and analytics.
CLARITY Act still has not advanced in the Senate
One year after the U.S. House of Representatives passed the CLARITY Act, the bill still has not completed its progress through the Senate. On July 17, House lawmakers held a hearing at Federal Hall National Memorial in New York to discuss how the bill could create clearer rules for the digital asset market.
Project updates
Kimi may pursue a Hong Kong IPO within six months
Moonshot AI’s Kimi has notified investors that it is adjusting its corporate structure and preparing for a Hong Kong IPO, with a listing possible in as little as six months.
Kimi also said on X that the market response following the launch of K3 was far stronger than expected. User demand over the past 48 hours has approached the upper limit of the company’s current GPU computing capacity. To protect the experience of existing subscribers, it has temporarily stopped accepting new subscriptions. Existing subscribers will not be affected, and the company said it is expanding compute resources as quickly as possible before restoring access for new users in batches.
People and market views
Hyperliquid co-founder says crypto struggles to attract top founders
Hyperliquid co-founder Jeff Yan said one of the biggest problems facing crypto and fintech today is the failure to attract enough top entrepreneurial talent. With the AI boom and the social prestige attached to certain sectors, many talented young people do not know which field offers the greatest chance to create value, and few end up choosing crypto.
He said rebuilding the financial system from first principles and turning academic theory into scalable market design is meaningful work, and he urged young founders to focus on real-world problems and take part in the development and innovation of on-chain finance.
Dovey Wan says South Korea may be one of the clearest late-cycle signals
Primitive Ventures founding partner Dovey Wan wrote on X that from the “kimchi premium” seen in each crypto cycle to the current focus on “memory stocks,” South Korea may be one of the clearest indicators that global risk assets are near the end of a cycle. She said that is not only because Korean retail investors are highly speculative, but also because the market structure itself is amplifying that enthusiasm.
Michael Burry points to opportunities in Hong Kong stocks
Michael Burry said investors should look for cheap opportunities in Hong Kong equities. In a social media post on Friday, he wrote: “Now is an especially good time to watch Hong Kong, looking for low-priced stocks that can perform well after the glow around Korea, Japan, and the iShares Semiconductor ETF fades.”
Musk praises Kimi K3 again
Moonshot AI’s latest open-source model, Kimi K3, ranked first on the Frontend Code Arena testing site with a score of 1679, ahead of Claude’s Fable 5 model. Artifacial Analysis later published an evaluation of K3, and Elon Musk again praised the Kimi model, saying K3’s benchmark performance was impressive.